LIFE AND DEATH ESTATE CHECKLIST, PART II.

• Author: DAY, DANIEL M.
• Position: Brief Article

Most estate plans focus on "death benefits" for others rather than on "lifetime benefits" for you now, while you're alive. Advanced wealth management focuses first on your vision and lifetime benefits -- your goals and dreams -- and then addresses the distribution of your wealth upon you death.

Last month, we offered emotional and spiritual questions; this month, the pragmatic questions you ought to ask.

Pragmatic Questions

* Do I have more after-tax income than I can possible spend each month?

* Am I still working when I don't need to be?

* Am I spending my time and talents on the most important things possible?

* Is my net worth balanced to protect me from inflation, deflation and economic depression?

* If I become physically or mentally disabled, will I be provided for?

* Will my current legal structures protect me, my family if applicable, and/or our wealth from lawsuits or other potential hazards?

* How will future tax law changes affect my plan, and most importantly, my goals?

* Is it better for me to hold title to my assets?

* What are the various forms of ownership to consider?

* What are the potential advantages/disadvantages of each structure?

* Will some assets perform better in the short/mid/long term if they are "owned" by some sort of trust, corporation, family partnership or other entity?

* Will my current...